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Downtrend ExhaustionArchive
- 5/3/2024 -
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Boeing Company (BA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Boeing Company (BA). During the week, the BA gained 12.57 points, or 7.52%, and closed at 179.79 on Friday, May 3, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 12% above average.
 Long-term trend: [See BA long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 89.00 and reached 278.57 on March 15, 2021. BA gained -189.57 points, or -213%, in 51 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 133.17 and resistance is at 266.10. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See BA medium-term trend chart]
A medium-term downtrend had started on December 21, 2023 at 267.54 and reached 159.70 on April 25, 2024. BA lost 107.84 points, or 40.31%, in 18 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (179.64). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BA weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since January 19, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See BA short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 159.70 and reached 180.49 on May 3, 2024. BA gained -20.79 points, or -13.02%, in 8 days. Price is near the trend high.
 Daily Technical Indicators: [See BA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 25, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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